Mortgage interest rates just keep dropping
For the 13th time this year the mortgage interest rates have reached the lowest point in recorded history. Freddie Mac reports 30-year, fixed rate loans were as low as 2.72% over the past week. That is down from their previous low of 2.78% earlier in the month.
Typically rates only move a few basis points at time from one week to another, but this past week they fell all the way from 2.84%, which is a much larger one-week decline than has been happening lately. George Ratiu, senior economist for Realtor.com, attributes this to the increase in unemployment claims that also took place last week. There were
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